Allianz SE, the German multinational financial services company, confirmed on Monday that it was the lead re-insurer for the AirAsia flight that went missing on Sunday. Agencies believe the payout could cost more than $100 million.Dec 29, 2014

Mallya is all set to be slapped with a wilful defaulter tag by UBI, after the Calcutta High Court rejected the bank's action on technical grounds; also Kingfisher Airlines would see its Air Operator Permit expiring on 31 December. ₹Dec 29, 2014